It is “inevitable” that Facebook will go public and when it does it could be “the largest offering in history,” said Sean Parker, the first president of the social-networking site, in an interview with CNBC at the World Economic Forum in Davos.
Parker, who said that he does not know what the Facebook's valuation will be, explained that the company's CEO Mark Zuckerberg wants to keep the company private as long as possible to build it.
Many of the recent technology valuations and initial public offerings have been leveraging off of Facebook, Parker added.
“To the extent that there is any bubble in technology at all, it is really a bubble around Facebook in the sense that there is a huge amount of pent-up demand among retail investors for access to Facebook equity,” he said.
Two recent IPOs include Groupon,which priced in Novemberwith a valuation north of $12.5 billion, and Zynga, whose IPO valuedthe company at $8.9 billion.
Parker also commented on the potential he sees for Spotify, a music-streaming service on Facebook that allows users to sample music. Several artists, including Coldplay, no longer allow users to stream newly released songs using the service, however.Page 1 of 2 | Next Page